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11 May 2007

How times change, Part 2

Brian Peckford's letter to the editor, Globe and Mail:

Newfoundland's position A. Brian PeckfordMay 29, 1984pg. P.6

St. John's -- Re the article by Ian Mulgrew, concerning my cross-country tour and Newfoundland's position on the offshore (Peckford Puts Sweet Reason Up Front In Resource Pitch - May 18): I must congratulate Mr. Mulgrew as being the first national reporter to report on the substance of Newfoundland's offer to the federal Government for the development of offshore resources. However, the article creates some confusion as to Newfoundland's position on equalization payments once oil revenue starts flowing.

Newfoundland believes equalization payments to the province should be phased out over time, according to a predetermined formula which would help Newfoundland catch up to the rest of Canada in terms of living standards. Newfoundland looks forward to the day when the province will not receive any equalization, to the day when, because of the resources on and adjacent to our shores, we have dropped our "have not" status and are in a position to make a larger contribution to Canada.

That is our objective, and we would not want it confused. Newfoundland does not want both oil revenues and equalization.